other material
confidence high
sentiment positive
materiality 0.55
Netcapital closes $4M public offering of common stock and warrants; net proceeds $3.37M
Netcapital Inc.
- Offered 16M units at $0.25 each: 4.8M common shares, 11.2M pre-funded warrants, 16M Series A-1 and 16M Series A-2 warrants.
- Series A-1 warrants exercisable at $0.25/share for 5 years after shareholder approval; Series A-2 for 18 months.
- Gross proceeds $4M; net proceeds $3.37M after fees and expenses.
- Proceeds to be used for sales, marketing, and general working capital.
- H.C. Wainwright acted as exclusive placement agent; received 7.5% cash fee and 1.2M placement agent warrants.